MphasiS net profit up 121 p.c. in FY09

BANGALORE, INDIA: The MphasiS Group, a provider of applications services, remote infrastructure services and business process outsourcing services, reported on Tuesday a consolidated revenue of Rs 4,263.9 crore for the year ended 31 October 2009 as compared to Rs 2,977.4 crore last year, registering a growth of 43.2 per cent.

During the same period, net profit increased by 121.2 per cent from Rs. 410.7 crore to Rs 908.7 crore, while operating profit was Rs 925.2 crore, a growth of 131.3 per cent in comparison to the previous year, said a press release.

Operating margins improved to 21.7 per cent for the year from 13.4 per cent last year. EPS for the year was Rs 43.45, an increase of 120.7 per cent in comparison to the previous year.

The board of directors has recommended a 35 per cent dividend for the year 2008-09.

For the quarter ended 31 October 2009, the Group recorded revenues of Rs 1,132.2 crore, a growth of 26.5 per cent compared to the corresponding period last year. During the same period net profit increased by 33.9 per cent from Rs 183.0 crore to Rs. 245.0 crore.

The group recorded a consolidated net profit growth of 6.9 per cent compared to the quarter ending 31 July 2009. Revenues for the same period grew by 2.4 per cent.

“Our aim is to deliver sustained performance. Our people and partnership with HP played an all important role in our success. Now, our entire focus is on delivering FY10,” said Ganesh Ayyar, chief executive officer of MphasiS.

During the quarter ended 31 October 2009, the Group added 16 new clients, 13 being from the HP channel. The clients include a North American global food processing company, a European healthcare service provider, and a large insurance group in the UK.

The Group also recorded a net headcount increase of 771 to take the total employee number to 33,524.